With the market crashes and negativity in the crypto market, users are panicking. But that's not the case for Suncrypto users anymore as Suncrypto Published POR and Liabilities.
We have continuously shared our thoughts and given the true answers to our users. For any reason, we wouldn’t compromise the trust of Suncrypto users.
Considering the current market situation, Suncrypto has thought to make our users more at peace with their investment in Suncrypto. Earlier we provided a sneak peek at our proof of reserve to liability ratio to show you people that Suncrypto holds more than a 1:1 ratio, as the reserve to liabilities we had was around 101% for almost all of the tokens. The data of that is available in a blog post on our Suncrypto Academy website and we also shared that with our users through the Twitter post.
Suncrypto’s Published Proof of Reserve (POR)
And now to take a step further, we have partnered with Coin Gabbar to display the complete data of our wallet addresses along with the partnered exchange balance on their platforms dashboard. Coin Gabbar is a well-known information & research provider which will be publishing our Proof of reserve report with pure transparency and complete data of our wallet addresses on their platform.
You can check out the detailed report of Suncrypto’s Proof of Reserve Report here
Suncrypto’s Published Proof of Liability
Our Proof of Liabilities is certified by statutory auditors Spark and Associates Chartered Accountants. This audit report clearly shows that Suncrypto has 1:1 asset backing, and there’s no fractional reserve opening. Suncrypto totally keeps your assets safe and even has crypto insurance of $150 Million from Ledger.
- Reserves represent the stored cryptocurrency in wallets, relevant blockchains, and partner exchanges (Binance, ByBit, Gate.io, KuCoin and Mexc Global).
- Based on the current exchange rate obtained from Coin Gabbar (https://www.coingabbar.com) as of December 26, 2022, at 6:50 pm, all cryptocurrencies are converted into USDT (Tether).
- User liability represents the Individual users' cryptocurrency balances.
You can see this by downloading the report Suncrypto Audit Certificate Report.
Suncrypto is financially well and our users can be free from worry with this audit report. Suncrypto team was continuously working on updating our users with Proof of Reserve and Proof of Liability data. And for that, we needed to dig deeper into our accounts.
About Spark and Associates
A reputable and forward-thinking chartered accountancy firm, SPARK & Associates is a 30-year-old chartered accountants firm that was founded in the year 1990. More details can be found on their website.
What’s Proof of Reserve and Liability?
Proof of reserve refers to a system that allows cryptocurrency exchange like SunCrypto, to demonstrate that it holds sufficient assets to meet their liabilities.
Proof of liability refers to evidence or documentation that shows the existence of a financial obligation or debt. In the case of any cryptocurrency exchange, it’s about the user's crypto liability on the exchange.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date. Occasionally unintended errors or misprints may occur. We recommend you to please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].
That’s Great & remarkable cheers 🥂 team
Well Done Sun cripto I Believe u Good work
Thank you so much for all of u .
To great build believe system of suncypto holders ..
Very Good Sun Crypto Team
Good job,,,,we love suncrypto,
We are always great ful
Excellent work done by Suncrypto Exchange
Welldone sun cripto team.
Honesty is the pillar of any business
We trust fully to Suncrypto
Superb 👌 Great Job Team SunCrypto
Great work… better than wazirx
U r great..!
Aisey hi trust banaye rakhey
Great to hear from exchange give us confidence 👍👍
Thank you Sun Crypto Team for giving more confidence.
Love you sun crypto
A better crypto exchange platform. No cheating, best and Visible work
Undoubtedly an trust worthy site. Everything looks transparent. And great Ui in app,loved it .
Suncrypto is Ray of hope in current crypto world
Sun crypto is best exchange
Wonderful step & good for crypto industry. Now I can proudly say that I’m also a part of Sun crypto Family, otherwise I was thinking to Uninstall it, bt now I’ll highly recommend Sun crypto App…..!!!
One of the safest exchange
Great app for beginners , great place to invest where u can check all meme small and bigg coins . Easy to use
Best exchange in India
Now these days sun crypto exchange is much better in trading compare to wazir x , coinswitch kuber & coindcx , , , specially all world best coin in 1 platform named sun crypto, only 1 nagitive point UPI payment not accepted
Best exchange in India
Suncrypto is my best crypto exchange.
Suncrypto is the best & safest Crypto Exchange in india 👍
Many Indian exchanges deeply fall down once sun crypto goes bigger
Ye India ka best crypto exchange hai. From beginner to pro all can use this safely. Payment is lightening fast almost as UPI also they have already paid tds and tax to our govt. So we call them Trust crypto exchange instead of sun crypto❤️❤️❤️❤️❤️❤️🙏🙏🙏🙏
Nice sir god job new mamber Sun family